dzo
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Post by dzo on Jul 10, 2017 17:43:51 GMT
I'm not convinced by the cashback scheme. As soon as a new tranche is announced, why wouldn't I put up my existing holding for sale (it won't sell of course, with a better deal pending) and bid for the same amount in the pipeline. If I get it I pocket the cashback, and make a profit if my sale goes through in a month or so. Then you'd lose a month's interest while selling and you'd be no better off. It would just tie up more capital for no benefit. Lendy's priority is obviously to make sure new tranches get funded. Old tranches being hard to sell on the SM is a far lesser problem.
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dzo
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Post by dzo on Jul 8, 2017 12:58:49 GMT
Paul64 I'm slightly concerned that Lendy will be offering cashback on certain individual development tranches. I think it's important that lenders who bought loan units without cashback get priority when selling on the SM. If not, then I will be making a formal complaint. On what grounds will you be complaining? If investors keep crying wolf, the regulators will stop listening to us.
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dzo
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Post by dzo on Jul 1, 2017 16:11:35 GMT
3) Sometimes people need cash for other things.
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dzo
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MoneyThing (MT) in Administration
IFISA
Jun 16, 2017 22:38:32 GMT
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Post by dzo on Jun 16, 2017 22:38:32 GMT
You may think the rule is daft but since it is a FCA rule I suppose we will just have to obey it. Indeed. It just seems a bit silly to have to use tricks to beat the system when it is the system that is wrong. Perhaps if we all wrote to our MPs? The rule exists for a good reason. They're not going to create an exception for the tiny proportion of ISA investments that can only be sold at par. You're probably the only person in your constituency who even knows this issue exists.
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dzo
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Post by dzo on Jun 16, 2017 22:30:10 GMT
I'd have thought this would push more people into p2p.
The BoE have just voted to keep base rate at 0.25% and they've said that when rates do rise it will be gradual. Money in the bank is depreciating in value so I can see a lot of people desperately looking for other places to put it.
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dzo
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Post by dzo on Jun 12, 2017 17:22:51 GMT
I thought I might sell some of my loans but when I saw the queue I changed my mind. Lendy must be making a fortune with the interest they are not paying! Doesn't inspire me with confidence in the platform though and so I won't be increasing my holdings for a while. Interest lost to lenders selling, is the Provision Funds gain... Maybe this is their cunning plan. Save money by flooding the SM and use it to bail out the defaulted loans.
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dzo
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Post by dzo on Jun 9, 2017 20:56:04 GMT
I wasn't defending the leave voters. They've wrecked our economy. My comment was in response to yorkshireman 's belief that working class Labour voters are tribalistic idiots who don't know what they're doing. It's something I hear quite a lot from Tories and I think it shows a remarkable lack of insight. Is it really so hard to understand why working class voters hate a party that has consistently made their lives worse? I'm not being either patronising or rude but if you're from a middle class background and you’ve never worked on a factory floor or managed factory staff then with respect, your experience of working class attitudes and views may be idealised. There’s also a parallel with people who live in say, Devon, the Cotswolds or Hampstead and indeed many politicians, thinking that all Muslims are the same because they only rub shoulders with educated people whereas the reality on the ground in some areas of Bradford, Dewsbury, Leeds etc. is completely different. No offence intended to yourself or any anyone else. You've made a lot of (inaccurate) assumptions about my background. It seems your modus operandi when faced with disagreement is to attribute it to stupidity, lack of knowledge, or a personality defect. It's quite obvious why poor people are more likely to vote Labour and the well off are more likely to vote Tory, but there'll always be people who convince themselves that their self-interest is actually good for everyone.
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dzo
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Post by dzo on Jun 9, 2017 19:44:48 GMT
The reason people become more conservative as they age is the same reason people swap volatile stocks for fixed income investments closer to retirement. They have less time left so change is seen as much riskier. Of course there's also the old addage of not being able to teach an old dog new tricks. As we age our brain plasticity decreases leaving us struggling to keep up with the modern world and yearning for supposedly simpler times. I disagree on the grounds that you have addressed a completely different point. ozboy used the term "Conservative" not "conservative": there is a very big difference. Somebody voting Conservative in the 70's/early 80's was hardly voting for maintaining the status quo/minimal change. Quite the opposite. In the context of the prior 20-30 or more years of post war politics they were voting for radicalism, not small c "conservatism". Fair point, but I still think the phenomenon of older people being more likely to vote Conservative is down to their social conservatism. Is there evidence that people move to the right economically as they age that isn't explained by them having built up more wealth?
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dzo
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Post by dzo on Jun 9, 2017 19:35:11 GMT
I find this sort of attitude incredibly patronising. Working class people vote the same way as wealthy people - for the party that represents their economic interests. Why should they be expected to vote Tory? Whatever sector your work in or segment of society you represent it is NOT in your interest to vote for Brexit then vote for a hung parliament. It is economic suicide. I was talking about the UKIP/Brexiter voters who have now decided to vote for Labour in marginal seats (which a large number must have done). Basically they have fckd the country. I wasn't defending the leave voters. They've wrecked our economy. My comment was in response to yorkshireman's belief that working class Labour voters are tribalistic idiots who don't know what they're doing. It's something I hear quite a lot from Tories and I think it shows a remarkable lack of insight. Is it really so hard to understand why working class voters hate a party that has consistently made their lives worse?
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dzo
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Post by dzo on Jun 9, 2017 19:09:39 GMT
I am not a big fan of the tories even though I tend to vote for them. In my opinion they made a miscalculation assuming that the average person in this country could grasp the importance of this election for the future of the country. The fact that the same people who voted for UKIP decided to vote for a hung parliament during the brexit negotiations says it all. The only people who seem to grasp what is at stake are the Scottish, but it has always been said they are the canniest of the bunch I think your analysis is very good. They have made a massive miscalculation regarding the nature of the electorate in this country, although I would like to point out it is very unlikely there is such a thing as a "Soft Brexit". The EU has far too much to lose from allowing the UK to negotiate their position in a reasonable fashion, their only option is to make an example of us to scare the other members into not trying the same thing. The EU seems to fall back on bully boy tactics when any of the member states vote for something they dont like. Although I am not against the concept of the EU what it has become is corrupt and totalitarian in nature, and this is highlighted by the position the UK now finds itself in. Although I am was not enirely sure Brexit was the right thing given the amount of instability in the World at the moment y - I do believe that now we are on this course we need a strong government to negotiate on our behalf. What really amazes me are these morons in marginal seats who voted UKIP (and I assuming brexit also) then voted labour for a hung parliament. In other words, the typical old style, unthinking Labour voter. They do not identify with Hampstead and Islington style socialism and in many cases are actually more socially conservative with a small “c” than many Tories yet the Conservatives have never been able to win their support. I speak from personal experience of people I’ve managed, members of my wife’s family and some of her in laws, people who would never dream of voting Conservative yet in all probability voted leave in 2016 but were unable to see beyond the tribal instincts of “you’ve got to vote Labour because t’ family always have done” in 2017. The red rosette on a donkey syndrome is still alive and well throughout the North and no doubt other former industrial areas especially the old mining areas where the 1911 miner’s strike and 1926 general strike are as much part of folklore as the 1984 strike. All of which means there are rich pickings for a Corbyn Labour party that effectively talks class war and promises financial goodies through punitive taxation of “the rich”, at which point all thought of voting to support Brexit goes out of the window hence my opening comment about the typical Labour voter. Nothing to do with Brexit or immigration and like them or not, UKIP could have done the country a great service by weaning these voters away from Labour thereby ensuring that we would not have the spectre of a Marxist cabal attempting to ruin the country after the next election. Unfortunately this was not to be due to UKIP’s inability to organise a p*ss up in a brewery and this plus the appalling Conservative campaign are two of the major causes of the situation we now find ourselves in. I find this sort of attitude incredibly patronising. Working class people vote the same way as wealthy people - for the party that represents their economic interests. Why should they be expected to vote Tory?
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dzo
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Post by dzo on Jun 9, 2017 19:02:21 GMT
I blame the Yoof's , i'm not sure what corbyn has got, but it seemed to excite them enough into voting for him. There's a reason many vote Labour in their youth, with many then graduating slowly to Conservative as they get older. In your youth you know Football Association about anything, but think and are convinced that you know everything.
Then of course as you age you tend to have learned, experienced, and know a smidgen more; you realise in your dotage that you don't know everything, but you do know that you know a little bit more. The reason people become more conservative as they age is the same reason people swap volatile stocks for fixed income investments closer to retirement. They have less time left so change is seen as much riskier. Of course there's also the old addage of not being able to teach an old dog new tricks. As we age our brain plasticity decreases leaving us struggling to keep up with the modern world and yearning for supposedly simpler times.
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dzo
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Post by dzo on May 26, 2017 18:16:32 GMT
I doubt it would make any real difference. It's not like Corbyn's promising to shoot the kulaks and nationalise the banks. The biggest problem would be his sheer incompetence, but he'd surely find people to advise him. Maybe he'd even save the British economy by failing in his attempts to take us out of the EU. Perhaps you're too young to remember the 1970's? Apologies if you do! True, but I'm young enough to have paid tuition fees and extortionate levels of rent. I'm no Corbynite, but we've gone too far the other way. If Labour's manifesto is to be believed, his policies would be more like a mishmash of the late-80's and the early 2010's. The real reason for concern is his personal qualities - or lack thereof. It's all academic though because he'll never convince enough voters to take him seriously as a potential PM.
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dzo
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Post by dzo on May 26, 2017 17:33:34 GMT
I doubt it would make any real difference.
It's not like Corbyn's promising to shoot the kulaks and nationalise the banks. The biggest problem would be his sheer incompetence, but he'd surely find people to advise him.
Maybe he'd even save the British economy by failing in his attempts to take us out of the EU.
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dzo
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Post by dzo on May 24, 2017 6:39:51 GMT
The castle is blighting a lot of investors lives I detect, including mine. I still have a few hundred stuck in the sales queue. It is my biggest weakness. If that loan got repaid early I would do a jig of delight. However it taught me a good lesson. Only go for 12 percent?
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dzo
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Post by dzo on May 22, 2017 19:45:29 GMT
Why not do something like Lendy's bottom-up prefunding then you can launch whenever it's convenient and we can invest at a time that suits us.
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